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  1. 1. The Transatlantic Trade &The Transatlantic Trade &Investment PartnershipInvestment Partnership
  2. 2. US Exports to European Union2012 exports:$265 bn2006–2012growth: 25%Almost back to2008 peak2012 was recordyear for 5countries
  3. 3. "This is a game-changer."– João Vale de Almeida, EU Ambassador to the United StatesBiggest trade dealever negotiatedHalf of world GDP1/3 of world trade
  4. 4. TTIP ObjectivesEliminate/reduce tariffs & quotasEliminate/reduce barriers to trade in goods,services, and investmentEnhanced compatibility of regulations &standardsEliminate/reduce/prevent "behind the border"non-tariff barriersEnhanced cooperation on global trading rules& concerns
  5. 5. Structure of AgreementMarket accessRegulatory issues & non-tariff barriersEnhanced cooperation on global trading rules& concerns
  6. 6. Potential Benefits"Stimulus" withoutspending+$123 bn per year toUS economyReduce complianceduplicationDe facto globalstandards
  7. 7. Remaining TariffsAverage ~3%Automotive8%Processedfoods 14.6%
  8. 8. Non-Tariff BarriersRegulationsStandardsLicensingGovernmentprocurementrestrictions
  9. 9. Political Challenges
  10. 10. Sector OpportunitiesProjected growth in US exports to EU bysector
  11. 11. Timetable3/20: Acting USTR notified Congress of intent; startof 90-day consultation period6/14: European Council to approve EuropeanCommission’s negotiating mandate6/19–20: EU-US summit in DublinJuly: First round of talks expectedOctober 2014???: Final text???: Ratification
  12. 12. Swift Passage TradingSwift Passage TradingMichael L. GrantMichael L. Grant(512) 589-9436(512) 589-9436mgrant@swiftpassage.bizmgrant@swiftpassage.bizblog:blog: eurobubba.comeurobubba.comThere are no foreignThere are no foreigncountries.countries.